We welcomed Richard Moffitt, Urban Logistics Chief Executive, on Hardman Talks to discuss the company’s recent results and business overview with Mike Foster, Hardman & Co Real Estate analyst.
Operationally, the company saw £140.2m worth of acquisition investment in the period, leaving the portfolio value at £345.9m. Faced with challenging COVID-19 headwinds, Urban Logistics achieved 100% rental collection in both Q1 and Q2 and 99% in Q3. The company’s strategy of targeting small to mid-sized single-let properties with high quality tenants has proved advantageous in maintaining tenant relationships and building further into the UK staple goods market. Despite a drop in accounting return and EPS, overall shareholder return is currently sitting at 21.8%.
Urban Logistics benefits from a high-quality investment management team, complemented by an experienced and knowledgeable board. This unique combination of skills and experience enables the company to identify and acquire assets; implement its asset management strategy; and create value for shareholders.
Underpinning these significant advantages, the business benefits from a conservative capital structure appropriate to its asset base, with a measured approach to the use of debt.